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Critical Statement by JP Morgan Analysts: The Real Value of Bitcoin is This Price!

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Critical Statement by JP Morgan Analysts: The Real Value of Bitcoin is This Price!

 JP Morgan may not be able to trade Bitcoin or offer its customers special services for cryptocurrencies, but the company analyzes this new market once in a while. JP Morgan recently announced the results of his analysis. This week, an official shared a report containing the halving analysis of JP Morgan’s Bitcoin mining scene on May 22.

Analysts at the multinational financial institution found that when analyzing Bitcoin’s internal value, BTC is currently trading “25% below the internal price after halving”. The actual price found by JP Morgan was obtained at the average cost of a BTC mining. Analysts suggest that concrete signals cannot be obtained from the cryptocurrency’s being below its real value, while some believe that BTC will eventually catch this price.

Experienced Analyst Warns: Bitcoin Can Get To These Levels In The Next Days!

JP Morgan analysts: The real value of Bitcoin is $ 11,500

According to JP Morgan analysts, the real value of Bitcoin is around $ 11,500, which is $ 2,500 above the current market price. Although this price may seem miles away, it can be achieved due to basic trends, according to some analysts. Blockchain firm Santiment said that on May 21, Bitcoin’s Network Value and Transactions Ratio (NVT) remained “healthy” and prices could rise to higher levels in a short time despite the recent decline. Santiment said:

DESPITE BTC’S SLIGHT DROP OF -4.4% TODAY, ITS NVT LOOKS HEALTHY AND OUR MODEL SHOWS A HALF BULLISH SIGNAL. THE AMOUNT OF UNIQUE TOKENS TRADED ON THE BITCOIN NETWORK IS SLIGHTLY ABOVE AVERAGE IN MAY, BASED ON PRICE LEVELS.

BlockTower Capital, a cryptocurrency and Blockchain investment fund, repeated the optimism in BTC. In one note, the firm stated that the “macro case” for BTC has never been so obvious. He linked his optimism to many trends such as increased distrust of central banks, the adoption of digital technologies of the world amidst ongoing diseases, and geopolitical tensions that increase as economies collapse.

JP Morgan makes critical move in Bitcoin and crypto industry

JP Morgan ‘s latest report on Bitcoin comes when the firm’s banking division, JPMorgan & Chase, first started serving “domestic crypto” customers. As reported by the Wall Street Journal 10 days ago, the bank has contracted Bitcoin exchanges Coinbase and Gemini Trust to serve its customers. The bank said that the accounts were opened and approved in April and that the transactions made through the account have just begun:

THE BANK PROVIDES CASH MANAGEMENT SERVICES TO COMPANIES AND CONDUCTS DOLLAR-BASED TRANSACTIONS FOR THE US-BASED CUSTOMERS OF EXCHANGES.

https://twitter.com/novogratz/status/1260214548063191047

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